Damon Dash's net worth:
Damon Dash has a net worth of $100,000 as a record producer, entrepreneur, and music executive in the United States. Damon has had a lot of documented financial troubles in recent years, unlike his former boyfriend Jay-Z, who is now a billionaire. Damon informed a New York judge in late 2019 that he was too impoverished to pay child support, with creditors garnishing the majority of his earnings. Throughout this piece, we'll go over his financial history in detail.
Damon Dash is best known for co-founding the Roc-A-Fella Records record label. Dash and rapper Jay Z co-founded Roc-A-Fella Records. He also co-founded two clothing brands with Jay-Z, including Rocawear. Rocawear grew into a hugely profitable brand that was eventually sold for hundreds of millions of dollars.
Damon utilized his clout to venture out into various other industries and businesses when business was growing. Damon dabbled with filmmaking, marketing, merchandise, and talent management, among other things. His production firm was responsible for a number of notable films, including Kevin Bacon's “The Woodsman” and Mekhi Phifer's “Paid in Full.”
Damon Dash was born in Harlem, New York, on May 3, 1971, and attended private schools in the city. He realized his musical vocation at a young age. To finance sneakers and t-shirts as a teenager, he would wash floors at a neighborhood barbershop and work as a newspaper salesman. Damon “learned to hustle” from his mother, who tragically died of an asthma attack while he was only 15 years old.
Dash and rapper Jay Z co-founded Roc-A-Fella Records. Dash was Jay-business Z's partner and former manager of Roc-A-Fella Records. Dash coordinated a tour for Jay-Z in 1999 that grossed $19 million dollars. Damon's net worth reached an all-time high of $50 million as Roc-A-Fella Records grew in popularity.
Regrettably, the happy times did not stay indefinitely. After Roc-A-Fella Records was purchased by Def Jam Recordings in 2004, Jay Z and Damon's relationship worsened. After that, Jay Z agreed to become the president of Def Jam. Jay-Z bought Dash out of his Rocawear investment in late 2005. As a result of these incidents, their relationship was formally declared to be over.
His success as a record producer led to his branching out into other areas, where he was equally successful. He co-founded Rocawear with Jay-Z, a tremendously profitable apparel line that was eventually sold for hundreds of millions of dollars. Damon utilized his clout to venture out into various other industries and businesses when business was growing.
Damon went on to work in film production, marketing, merchandise, and talent management in the future. His production firm was responsible for a number of notable films, including Kevin Bacon's “The Woodsman” and Mekhi Phifer's “Paid in Full.” Dash also starred in both films, albeit his role was mostly that of the producer. Damon Dash also formed DD172, a media collaborative that comprises American Nu, a magazine, VNGRD79, an art gallery, and BlueRoc Records, a record label subsidiary.
From 2000 until her death in a plane crash in August 2001, he was in a relationship with R&B artist Aaliyah. Dash has revealed in interviews that the couple had plans to marry even though they were not officially engaged. From 2005 to 2009, Damon was married to Rachel Roy. Rachel Roy was an intern at Rocawear when he first met her.
Ava Dash (born in 1999) and Tallulah Dash (born in 2000) are their two kids (born in 2008). When the couple split in 2009, they had a contentious custody battle over their daughters. Roy accused Dash of domestic violence and received exclusive custody, a three-year restraining order, and substantial financial assistance.
Dame “Boogie” Dash, Dash's son, was born in 1991. Linda Williams, his ex-girlfriend, is the mother of his child. Growing Up Hip Hop, a WE Tv reality show features Boogie. As of April 2020, Dash is engaged to his pregnant fiancee, film producer Raquel Horn.
Dash confessed to a judge during his divorce proceedings from Roy that he owed $2 million in unpaid taxes and was in the process of foreclosure on two New York City properties. He was also being sued for nonpayment by multiple NYC legal firms and other creditors. He couldn't make the $700 monthly payments on his Chevy Tahoe, so it was repossessed.
Dash was evicted from his $9 million Tribeca, New York house, which was ultimately sold for $5.5 million in foreclosure.
In the meantime, Jay-Z sold Rocawear to Iconix Brand Group for $219 million. Dash was forced to pay $50,000 to Linda Williams, the mother of his son Boogie, in 2014 for causing her to be charged with harassment in 2009. Damon Dash owes the state of New York $4.14 million in overdue taxes, according to documents released in August 2015.
Damon filed a court petition in September 2019 to have his child support payments terminated. Damon agreed to pay $6000 a month in child support during the divorce process, which would last until the daughters turned 18 years old. Damon stated in his court declaration that he earned a total of $56,000 in 2018, while Rachel allegedly earned more than $500,000.
Dash was arrested in November 2019 for failing to pay $400,000 in child support. Dash is said to have paid over $1 million to be released. Damon filed legal documents later that month, stating he was broke again and couldn't afford to pay a $2,400 personal debt. This time, he claimed that his only source of income is his own company, which is currently losing money.
He also revealed that as part of a legal settlement, he earned $2 million from producer Lee Daniels, but that the money was garnished by creditors. Dash was sentenced to pay Rachel Roy $341,991 in addition to $25,000 in attorney expenses in March 2019.